No Deposit Mortgage
How to get a Mortgage Home loan with no saved deposit.
No saved deposit home loans, are genuine "no savings" mortgage program from our mortgage origination company LoanMate, have been designed to be flexible, with low cost interest rates. They are designed for those couples and have two above average incomes coming in, stable employment, but are not good at saving the deposit.
How it works:
We put you into our prime home loan program, maximum 90% Loan to value ratio.You arrange the 10% deposit from any source, including savings, first home owners grant, gifts from family or loans from any source.
We get you passed through mortgage insurance.
Alternatively you can make up the 10%, plus your costs to complete the settlement from other sources, including:
- First home owners grant.
- Gifts from friends and relatives.
- Loans from family
- Personal loans.
- After 5- 7 years you have:
- paid off your personal loan 10%,
- paid off a smaller amount of your 90% mortgage.
- Gained any growth in equity over the period.
- Improved the land, or home to increase its value.
The alternative is to wait till you have saved the deposit. This program is only available to people with good credit, above average earnings and who are easily managing any other credit commitments.
To apply complete and send the form below.